Formation Bio Raises $600 Million Fund to Acquire Medicines
The privately held drug company raised a $600 million fund instead of another venture round to finance medicine acquisitions.
By Brian GormleyWhen privately held drug company Formation Bio needed cash to acquire more medicines, it didn't raise another venture round. It raised a $600 million fund.Formation has hit on an unusual strategy to finance the risky business of drug development. Formation's strategy is to acquire c…